Meitu Full Year 2023 Earnings: Revenues Disappoint

Meitu (HKG:1357) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥2.70b (up 29% from FY 2022).
• Net income: CN¥378.3m (up 302% from FY 2022).
• Profit margin: 14% (up from 4.5% in FY 2022).
• EPS: CN¥0.086 (up from CN¥0.022 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Meitu Revenues Disappoint

Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) was mostly in line with analyst estimates.

In the last 12 months, the only revenue segment was Internet Business contributing CN¥2.70b. The largest operating expense was Research & Development (R&D) costs, amounting to CN¥635.5m (47% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥87.0m. Explore how 1357's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Interactive Media and Services industry in Asia.

Performance of the market in Hong Kong.

The company's shares are up 13% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for Meitu that you need to be mindful of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.